You can easily generate custom reports in a single spreadsheet, create complex calculations, and use Excel’s built-in tools to work on your data. Once the data is finalized in Excel, you can easily post it back to QuickBooks Online Advanced. Plus allows you to assign classes and locations to your transactions, so you can see how your business performs across divisions, locations, rep areas, or any units that are relevant to your business. If you run businesses in multiple locations and want to see which one is most profitable, an upgrade to Plus from Essentials is worth the price. The biggest difference between Simple Start and Solopreneur is that Simple Start allows you to pay and manage bills. You can track your unpaid bills easily and pay them directly within QuickBooks.

QuickBooks Online is easier to use and has more automations, more integrations, and better invoicing. The downsides are the lack of sales orders, lead management, and other complexities that loyal Desktop users may miss (such as customizable letter templates, a built-in calendar, and even spellcheck). One big drawback of QuickBooks Pro in the past was that it didn’t have mobile apps. Fortunately, a mobile app is now available with the introduction of QuickBooks Desktop 2022. However, the QuickBooks Desktop app is a very pared-down version of the desktop and is poorly rated.

Features that help you get things done

In addition to having more integrations, QuickBooks Online also has better integrations. QBO’s integrations cover more business needs and include multiple payment gateway options. Unfortunately, pricing is no longer disclosed and you will need to contact QuickBooks Sales for more pricing details. At the time of our last what is the difference between public companies and public sector review, pricing started at $349.99/year for a single user. It is worth noting that QuickBooks Desktop Pro and Premier versions will soon discontinue sales to new users.

Advantages of QuickBooks Online Essentials

It does cost more to access this, which is approximately $22.50 more per month plus $6 per employee, per month. When subscribing to this service, you’ll get a 1099 e-file of forms and a next-day direct deposit. Businesses that have purchased one-time licenses of the locally-installed QuickBooks Desktop versions that have been sunset can still use the software’s accounting features. However, these versions don’t receive security updates, live support, or access to cloud-based services such as live bank feeds, QuickBooks Desktop Payments, or QuickBooks Desktop Payroll.

Accounting

1. For instance, if you choose the Simple Start plan, you’re the only person who can use the software—apart from your accountant, with whom you can share your business’s account at no additional cost.
2. Essentials is preferable if you need to track unpaid bills, while Plus is great if you require inventory and project management.
3. If you make the switch from Desktop to Online, you can import your data and access your original company file at any time.
4. Plus, with access for up to 40 users, Enterprise can scale with your business as it grows.
5. Get a feel for what QuickBooks can do and try out top features using our sample company.
6. However, note that there’s no direct data migration option available from QuickBooks Solopreneur to any higher version of QuickBooks Online.

QuickBooks Desktop is desktop based, meaning you’ll buy a hard copy of QuickBooks’ software, then download that software once onto a single device. For instance, if you choose the Simple Start plan, you’re the only person who can use the software—apart from your accountant, with whom you can share your business’s account at no additional cost. We also don’t recommend QuickBooks Desktop to Mac users, since there’s just one desktop-based plan for Mac users.

One is sleek and modern, and the other seems to have been designed for a cubicle. Subscription clients in QuickBooks Desktop 2023 (R1) or older versions will need to update to the latest 2023 (R3) version before their subscription expires. Because QuickBooks Online is connected to the cloud, you can work from any device with an internet connection. Even after initial setup, the software must also let users modify information like company name, address, entity type, fiscal year-end, and other company information.

Contact Management

Most importantly, Plus will separate the cost of your ending inventory from COGS using first-in, first-out (FIFO). You’ll need to make this tedious calculation in a spreadsheet if you choose a lower-tier plan. The main differences between the two QuickBooks plans are the ability to track inventory costs and calculate P&L by project. Other helpful features in Plus are budgets, classes, customer types, locations, and unlimited report-only users.

The Desktop Premier edition escalates to 150+ reports, including industry-specific reports for general contractors, manufacturers and wholesalers, nonprofits, and retailers. If you’re searching for accounting software that’s user-friendly, full of smart features, and scales with your business, Quickbooks is a great option. Probably not, unless your business absolutely needs advanced inventory management features, barcode scanning, or assembly builds. Not only is it the newer tool, but it also seems to be the focus in terms of update frequency, development, and marketing. If your accounting software doesn’t register changes in real time, it could lead to costly delays. QuickBooks Desktop, on the other hand, is installed locally, meaning you download and install the software on your computer or multiple computers in your office, for example.

Our internal case study compares the four standard QuickBooks Online plans for small businesses across major accounting categories and functions to help you decide which one fits your needs. We excluded QuickBooks Solopreneur because it’s not a double-entry accounting system. QuickBooks Simple Start is a good fit for businesses that are seeking a double-entry accounting system and for those with employees because of its integration with QuickBooks Payroll. The inventory management and job costing features are more robust in QuickBooks compared to QuickBooks Online.